Texas Permanent School Fund reduced its stake in ATI Inc. (NYSE:ATI – Get Rating) by 2.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,213 shares of the basic materials company's stock after selling 1,930 shares during the period. Texas Permanent School Fund owned 0.07% of ATI worth $2,421,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. FNY Investment Advisers LLC boosted its position in shares of ATI by 1,460.0% in the first quarter. FNY Investment Advisers LLC now owns 1,560 shares of the basic materials company's stock valued at $41,000 after acquiring an additional 1,460 shares during the period. Cornerstone Advisory LLC bought a new stake in shares of ATI in the fourth quarter valued at about $32,000. National Bank of Canada FI boosted its position in shares of ATI by 2,264.0% in the first quarter. National Bank of Canada FI now owns 2,364 shares of the basic materials company's stock valued at $63,000 after acquiring an additional 2,264 shares during the period. Hanseatic Management Services Inc. bought a new stake in shares of ATI in the first quarter valued at about $112,000. Finally, Strs Ohio bought a new stake in shares of ATI in the first quarter valued at about $185,000.
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Insiders Place Their Bets
In other ATI news, Director James C. Diggs sold 12,500 shares of the business's stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $24.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director now owns 46,060 shares of the company's stock, valued at $1,105,440. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Karl D. Schwartz sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $25.00, for a total value of $50,000.00. Following the completion of the transaction, the chief accounting officer now owns 64,833 shares of the company's stock, valued at $1,620,825. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James C. Diggs sold 12,500 shares of the company's stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $24.00, for a total value of $300,000.00. Following the completion of the transaction, the director now directly owns 46,060 shares of the company's stock, valued at approximately $1,105,440. The disclosure for this sale can be found here. Insiders own 0.82% of the company's stock.
ATI Trading Up 3.5 %
ATI opened at $30.79 on Thursday. The company has a quick ratio of 1.30, a current ratio of 2.89 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 769.94 and a beta of 1.31. ATI Inc. has a twelve month low of $13.85 and a twelve month high of $30.84. The company has a 50-day simple moving average of $24.28 and a 200 day simple moving average of $25.27.
ATI (NYSE:ATI – Get Rating) last issued its earnings results on Thursday, August 4th. The basic materials company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.37 by $0.17. The firm had revenue of $959.50 million during the quarter, compared to the consensus estimate of $837.33 million. ATI had a return on equity of 21.63% and a net margin of 0.36%. The business's quarterly revenue was up 55.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. Analysts predict that ATI Inc. will post 1.63 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. KeyCorp boosted their target price on shares of ATI from $31.00 to $33.00 and gave the company an "overweight" rating in a research report on Friday, August 5th. Wolfe Research raised shares of ATI from a "peer perform" rating to an "outperform" rating and set a $33.00 target price for the company in a research report on Friday, August 5th. Finally, Benchmark upped their price objective on shares of ATI to $37.00 in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $30.14.
ATI Profile
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ATI Inc manufactures and sells specialty materials and components worldwide. The company operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.
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